Dear Subscriber,

Brent fell sharply to $67.86pb from a recent high of $78pb

Brent futures plunged 5.06% to $67.86pb following Trump’s surprise announcement of a ceasefire between Israel and Iran. The move eased fears of supply disruption and a potential closure of the Strait of Hormuz. However, the truce remains fragile. as Israel accused Iran of violations and warned of renewed missile attacks.

In Nigeria, rising global oil prices pushed the PMS pump price up by 5.71% to N925/litre. This uptick, if it lasts, will likely raise logistics costs, exerting upward pressure on inflation in the months ahead.

The price of copper surged by 20% (YTD) to $4.80/pound

Copper prices rose 20% (YTD) to $4.80/pound, driven by growing demand from electric vehicles, renewable energy, and grid upgrades. Supply constraints stemming from Panama’s mine shutdown and Zambia’s strict environmental regulation, also supported the rise. This price increase could impact Nigeria’s construction, real estate, manufacturing, and power sectors.

FDC’s Manager, Dumebi Oluwole, and economic associate, Ajibola Ayodeji, discussed these and other burning economic issues on Channels TV Business Morning and Business Incorporated, respectively.

Click the link below to watch the video.

Enjoy your read!